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Dive brief:
- Solina, the French-based material manufacturer of sauce and seasoning, is rapidly expanding its appearance in the United States with two recent acquisitions.
- The company said last week that it had acquired Illinois-based Socol Custom Food In Food For an unknown amount. Socol supplies the custom charming and sweet sauce in food formation, retail and serving foods.
- The deal comes after less than a month Solina closed on a deal Advanced Food System, Inc. To buy, also for an unknown amount. New jersey-based supplier makes dry spices for frozen foods, sauces or meat and poultry.
Dive Insight:
Solina has been in the race for an acquisition in the last few years because it appears Create operations in North America It matches the company’s dry and liquid solution capabilities in Europe. The taste of the manufacturer is used in meat, snacks, prepared food and alternative protein.
The company has now acquired four in the US since 2021 and has also taken away producers in Canada. In 2022, Solina bought Smithfield’s seasoning business Sautoga food specialties For $ 587 million in 2022.
The procurement of AFS also expanded the presence of Solina on the east coast, while Socol’s located located near the existing site of the component company in Illinois, allows it to make it “central distribution point in midwests”. Solina now has five sites in the US, including both in Illinois, California, Nevada and Plus Places in New Jersey.
Beyond geographical detail, Solina also wants to increase her commercial offerings. The Socol acquisition gives the company more than appearance in sweet sauce.
Despite her rapid growth, Solina has somewhat refunded her US footprint in recent months as high input prices pressurize the margin. Three years after purchasing Visconsin -based Spice Company Asenzya, Solina said in October that it will shut down the brand Spice manufacturing plant In oak creek.
Solina CEO Anthony Franchise said In a statement The AFS and Socol will eventually help the company to convert the company into a broaden-stop shop for “customized dry and liquid taste solutions”.
“With these acquisitions, we are diversifying our product capabilities beyond the charming solutions, strengthening our ambitions to grow with customers in many markets and channels,” the franchheter said.
